IRS and State Agencies have increased their audits of workers classified as Independent Contractors. Why, because both Agencies are looking for more revenue without raising taxes. (see
full course description)

Misclassification of workers by payees is an easy IRS target. The IRS says if you treat employees as nonemployees you will be liable for all social security and Medicare taxes and for withholding taxes for the entire period of misclassification plus all penalties and interest.

As a result, companies need to be especially careful to ensure that their employee vs contractor classifications are in compliance with the law.

Objectives of the Presentation

Understand fundamentals of contractors vs. employeesHow to increase your competitive position by understanding these areasHow to analyze performance and decision makingLearn how to classify employee vs. contractorsLearn best practicesGet reporting and compliance tips

Why Should you Attend

Properly classifying a worker is critically important. If an employee is misclassified as an "independent contractor," the employer can be liable for back wages, including overtime and liquidated damages, under the FLSA; back taxes and penalties for failure to withhold income, Social Security, and Medicare taxes or pay the employer´s share of Social Security and Medicare taxes; as well as other benefits that are offered to employees, such as stock options, profit-sharing, retirement, health and life insurance, and even severance if the relationship ends.

Join the webinar to know the differences between employees and independent contractors, why such distinctions are important to your business, and how they can affect your bottom line.

Areas Covered

IRS Test for identifying independent contractorsPurpose of Form 8919Purpose of SS-8Purpose of Form 8952Red flags that attract attention of IRSHow is a company most likely to be "caught?"The "red flags" companies should look for when performing a self-auditThe IRS´s Voluntary ClassificationSettlement Program ObjectivesTo provide you the tools to appeal and auditor´s decision

Seminar Summary:

IRS and State Agencies have increased their audits of workers classified as Independent Contractors. Why, because both Agencies are looking for more revenue without raising taxes. (see
full course description)